Nifty Given a Strong Breakout on Weekly Charts

NSE:NIFTY   Nifty 50 Index
On weekly charts, Nifty was not able to give a proper candle close above 17900 levels on last three rejections but able sustained above it this week with a strong candle close. It has also given a breakout on trendline or channel type of pattern which is respected for long time.

Can initiate a Trade for upside when 18150 levels is taken out in 15min charts with SL of 50 points and first target of 18300.
It is Preferred to check banknifty before taking a trade as it is also at All time high resistance Zone.

For Downside, 18000 levels need to be broken up.
It is preferred to to trade half quantity for downside.


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